Orthofix Medical Inc. (NASDAQ:OFIX) Stock Has Average Target Price of $14.75

Key Points

• Analysts give Orthofix Medical a consensus “Hold” rating, with three buys, one hold and one sell; the average 12-month price target is $14.75.
• Shares opened at $9.72 and had traded between $8.50 and $16.42 over the prior 52 weeks. Canaccord cut its target from $18 to $13 but maintained a buy rating.
• In its latest reported quarter, Orthofix posted an adjusted loss of $0.39 per share, slightly better than estimates, and revenue of $210.93 million, above expectations.

Orthofix Medical Inc. (NASDAQ:OFIX - Get Free Report) has earned a consensus recommendation of "Hold" from the five research firms that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have issued a buy recommendation on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $14.75.

A number of analysts have weighed in on OFIX shares. Weiss Ratings raised Orthofix Medical from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Tuesday, October 20th. Canaccord Genuity Group dropped their target price on Orthofix Medical from $18.00 to $13.00 and set a "buy" rating on the stock in a report on Monday, August 10th.

Orthofix Medical Price Performance

Shares of OFIX opened at $9.72 on Thursday. Orthofix Medical has a fifty-two week low of $8.50 and a fifty-two week high of $16.42. The company has a market capitalization of $395.90 million, a price-to-earnings ratio of -6.31 and a beta of 0.66. The firm has a 50-day simple moving average of $9.34 and a 200-day simple moving average of $11.04. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.67 and a current ratio of 2.84.

Orthofix Medical (NASDAQ:OFIX - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The medical device company reported ($0.39) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.41) by $0.02. The firm had revenue of $210.93 million for the quarter, compared to analysts' expectations of $209.28 million. Orthofix Medical had a negative return on equity of 14.05% and a negative net margin of 7.41%. On average, equities research analysts anticipate that Orthofix Medical will post -1.29 earnings per share for the current year.

Hedge Funds Weigh In On Orthofix Medical

A number of hedge funds and other institutional investors have recently bought and sold shares of OFIX. Moore Capital Management LP purchased a new position in Orthofix Medical during the 2nd quarter worth $781,000. Paradigm Capital Management Inc. NY acquired a new stake in shares of Orthofix Medical in the 2nd quarter worth $30,167,000. BlackRock Inc. acquired a new stake in shares of Orthofix Medical in the 2nd quarter worth $30,405,000. Engine Capital Management LP lifted its stake in shares of Orthofix Medical by 3.2% in the 1st quarter. Engine Capital Management LP now owns 4,390,779 shares of the medical device company's stock worth $50,362,000 after acquiring an additional 137,858 shares during the period. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Orthofix Medical in the second quarter valued at about $1,089,000. 89.76% of the stock is currently owned by hedge funds and other institutional investors.

Orthofix Medical Company Profile

Orthofix Medical Inc is a medical device company focused on spinal and orthopedic solutions. The company develops, manufactures and distributes products designed to help treat spinal disorders, support bone healing and address orthopedic trauma and related musculoskeletal conditions.

Its product portfolio includes spinal fixation and interbody systems, biologics and bone-grafting products, bone growth stimulation devices, and technologies for spinal motion preservation and deformity correction.

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